MARTINSRIED (dpa-AFX) - MediGene AG (MDGEF.PK) reported that its total revenues for the first quarter increased to 2.153 million euros from 1.403 million euros in the first quarter 2020 due to higher revenues resulting from research and development services from strategic partnerships. Revenue in the latest-quarter included revenue from the derecognition of contract liabilities.
Earnings before interest, taxes, depreciation and amortization or EBITDA for the first-quarter was negative 3.078 million euros compared to negative 5.949 million euros last year.
The company continues to expect total revenue of 7 million euros - 9 million euros in 2021, research and development expenses of 14 million euros - 20 million euros, and an EBITDA loss of 10 million euros - 17 million euros.
Currently, Medigene expects no material influence of the COVID-19 pandemic on total revenue, research and development expenses and loss at EBITDA level. Based on current planning, the company has sufficient financial resources to fund operations into the third quarter of 2022.
Copyright RTT News/dpa-AFX